Revenue: Effective Date, Disclosure and Transition & Other Assets and Deferred Costs (Topics 340-40 and 606-10-50)
This course is the final segment of a three-course series; concentrate on the ASU 606, Revenue from Contracts with Customers. Address the effective date, disclosure, and transition along with ASU 340-40, Other Assets and Deferred Costs.
Now is the time to get serious about adoption of ASC 606, Revenue from Contracts with Customers. With the issuance of a final standard—ASC 606, Revenue from Contracts with Customers—public companies have an implementation date after Dec. 15, 2017, and non-public companies, Dec. 15, 2018 (as amended).
- FASB ASC 606, Revenue from Contracts with Customers
- FASB ASC 340-40, Other Assets and Deferred Costs
- All recently released updates to ASC 606, Revenue from Contracts with Customers
- Explain the objective of disclosure under ASC 606.
- Explain the elections available to nonpublic entities regarding disclosure under ASC 606.
- Illustrate, measure, present and disclose other assets and deferred costs relating to ASU 606.
- Recall the effective date, as revised, for public and nonpublic entities.
- Identify and differentiate between the two methods of transition.
CPAs, auditors, consultants, and financial and management professionals.
Applicable if you are a HSCPA member in good standing.
Applicable if you are not a HSCPA member.